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Government-Owned Swiss Bank Launching Crypto Trading and Custody Services

Basler Kantonalbank (BKB), Switzerland’s eighth-largest bank, is getting into crypto through its subsidiary, Bank Cler. Owned by the Swiss Canton of Basel-City, BKB has total assets of approximately $49 billion. Swiss Canton Bank Launching Crypto Services Local Swiss government-owned commercial bank BKB will be offering cryptocurrency services through Bank Cler, the bank told Citywire Switzerland Monday. Founded in 1899, Basler Kantonalbank, also called Basel Cantonal Bank, offers retail, corporate and private banking services. It has total assets of approximately $49 billion. Bank Cler said that its crypto push is in response to demand among its younger clientele, who wish to…

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US Regulator Green-Lights Banks for Cryptocurrency Custody Services

The Office of the Comptroller of the Currency (OCC) has clarified that national banks and federal savings associations can provide cryptocurrency custody services for customers. The OCC sees banks providing crypto custody services as “a modern form of traditional bank activities related to custody services.” Banks Authorized to Offer Crypto Custody Services The OCC announced Wednesday that it has published “a letter clarifying national banks’ and federal savings associations’ authority to provide cryptocurrency custody services for customers.” An independent bureau of the U.S. Department of the Treasury, the OCC charters, regulates and supervises all national banks and federal savings associations…

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